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Category Archives for Coronavirus

Paying Off The Pandemic Debt

  • December 7, 2021

Paying Off The Pandemic Debt

After almost two years of pandemic, Americans have added a whopping $660 billion in debt as they struggle to cope with the COVID-19 hardships. According to a recent analysis, the average American now has almost $54,000 of debt. Households have accumulated over $155,000 in consumer debt on average. 

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5 Tips for Applying for PPP Loans

  • May 14, 2021

The Paycheck Protection Program (PPP) is an endeavor by the Small Business Association (SBA) to assist small businesses with funding. Here are five tips for applying for PPP loans.

1. Include All Necessary Documentation

Like any application, a PPP loan application requires quite a lot of documentation and information before it can be processed and approved. The list of required documents and records may differ depending on what type of business you're seeking a loan for, so make sure you check the requirements before you begin your application and gather the necessary records. At a minimum, every application must include the completed and signed application, your business's most recent tax records,  copies of each business owner's government-issued ID and a valid voided check.

2. Make Your Application As Complete As Possible

Try to make your application as complete as possible when you initially fill it out. Lenders tend to prioritize completed applications over ones with gaps in the information. This is because PPP loans do not have unlimited funding and completed applications provide a better picture of what funding a business needs. In addition, you should make sure your information is as exact as possible. Avoid rounding your calculations and numbers and make sure all your information matches or is flagged as updated if you apply for a second PPP loan.

3. Keep an Eye on Your Application's Progress

Check your application's progress regularly while you're waiting for approval. Most lenders will indicate whether the application is still pending approval or has been approved. If your application has been pending for some time, you can call to check on its progress. The progress indicator may also alert you that something is missing from your application or that an error has occurred during processing.

4. Thoroughly Review All Instructions

Always read the instructions carefully before you begin your application. Each lender may have different steps you need to follow, such as one lender requiring an ink signature while another will allow you to e-sign the application. If you submit an application containing errors, it's far less likely to be approved than a complete, pristine application. Keep the instructions on hand while you fill out your application and add any required documentation or other attachments. This way, you can quickly check them if you're unsure of a step. You should also keep the contact information for your lender on hand while you fill out the application, in case you have questions the instructions don't seem to answer.

5. Prepare for Delays

Try to factor potential delays into your application timeline. Many organizations across the country will be applying for PPP loans at the same time you are. Because of this, not only will there be times when application portals are overwhelmed, lenders will also need time to review and approve applications. Once approved, it will then take more time for disbursement to take place.

It can be frustrating and nerve-wracking waiting for your loan application to process. If you double-check the directions, include as much documentation and information as you can and make sure you're prepared for potential processing delays, the wait will be less stressful.

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How COVID-19 Tests Help To Track The Disease

  • November 23, 2020

covid-19 test

The COVID-19 tests allow governments and health professionals to have a real scope of the spread of the virus in society, monitor the transmission chains of the disease, detect asymptomatic patients or those who at some point had Covid-19 and did not discover it, in addition to identifying the virus transmission by geographic areas and age groups, among other parameters. Primex Labs is part of the solution; giving tests to help the government and health officials get a good grip on this disease.

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Still Unsure About Hitting The Gym During COVID?

  • October 5, 2020

What if You are Still Unsure About Hitting the Gym?

Let's be honest:

It's OK if you're still unsure about the gym during the pandemic.

The gyms are starting to re-open following a total closure due to COVID-19 and, while eager gym-goers are once again working up a sweat in their home away from home, some of us still aren’t quite there yet.

Having been told of the dangers of coming into close proximity with others outside of our households and support bubbles, the idea of getting hot and sweaty in the gym isn’t exactly appealing to a good number of people.

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Your Money: How Long Will It Last?

  • September 29, 2020

your money

The coronavirus pandemic taught us a valuable lesson:

You need to expect the unexpected--especially when it comes to your money.

In fact, it may not surprise you to know that 50% of Americans would experience financial trouble if they had to cover an emergency expense of $1,000 or more. That's according to a Charles Schwab Financial Literacy survey.

Pandemic and emergency expenses aside, money management is a real problem for us Americans. So, what do we do? Below, we have a few key tips you will want to make note of as you resurrect your financial literacy and outlook.

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COVID-19 Liability Risk: Potential Claims Your Business May Face

  • September 21, 2020

covid-19 liability risk

After months of lockdowns, reopening has come as a relief for businesses, at least from the financial perspective. It is a chance to be back on your feet but there are more challenges than you can imagine when it comes to being back to work in the new normal. Things aren’t that great on the operational fronts because you will need to implement stringent guidelines to ensure the safety and well-being of the employees, customers, and visitors.

Moreover, businesses face potential liability related to exposure to the virus as employees, customers, vendors, and other parties enter their premises. Unfortunately, this risk of liability is unavoidable until the pandemic goes away. So it becomes important for business owners to be aware of the potential claims and have a strategy to deal with them. Here are the ones you need to steer clear of.

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Fitness Plan at Home: How to Keep Clients During Lockdown

  • August 15, 2020

fitness plan at home

The current health crisis has hit several industries hard. Health and fitness businesses, in particular, continue to face the challenge of retaining clients while adhering to lockdown protocols. Even though some cities have started allowing certain businesses to open their doors again, there is no guarantee for this change's permanence. As COVID-19 cases continue to rise, there is a possibility that another lockdown will be implemented, which will threaten recently opened businesses. Preparing for this scenario is essential to developing a business continuity plan that works for your organization.

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What Coronavirus Has Taught Us About Finances

  • July 14, 2020

What Coronavirus Has Taught Us About Finances

A few short months ago, the idea of an unstoppable global pandemic taking millions of lives was something reserved for action movies and sci-fi films. Today, however, it’s a horrifying reality. As COVID-19 continues to spread around the world, its physical, emotional, and practical effects are being felt by billions of people. 

But coronavirus isn’t just taking the lives or health of millions of people; it’s taking their wealth too. As industries grind to a halt and economies nosedive, the financial implications of COVID-19 are undoubtedly far-reaching. In fact, it could take generations before economies bounce back, So, what has coronavirus really taught us about finances? 

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Financial Lessons the COVID-19 Pandemic Taught Us

  • July 2, 2020

money lessons from covid-19

While the COVID-19 pandemic indeed caused tons of troubles worldwide, there are things we ought to learn from the current crisis. The pandemic serves as a painful financial eye-opener for most people. The following are just 3 money lessons from COVID-19 we need to remember.

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How To Pay for a Health Care Emergency After Losing Your Job

  • June 11, 2020

How To Pay for a Health Care Emergency After Losing Your Job

Suffering with a health care emergency after losing your job?

The current global pandemic is a crisis that has hit the world's health care system and its economies. Millions of people have had to stop working due to the fact that coronavirus is so contagious. While staying home is an effective way to slow the spread of the virus, it will leave many people without jobs.

Most people in the nation have their health insurance through work, leaving them scrambling for coverage during the epidemic. Here are some ways to manage the costs of a health emergency after losing your job.

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